Another $50 million to be invested in joint Armenian Russian ventures

YEREVAN, March 15. / ARKA /. Armenian prime minister Tigran Sargsyan received last Saturday a Russian delegation led by Russian transport minister Maxim Sokolov, who is the co-chairman of the Armenian-Russian intergovernmental commission on economic cooperation, who said additional $50 million will be invested in Armenian-Russian joint ventures. The Armenian cochairman of the commission is Tigran Sargsyan.

Sokolov was quoted by Armenian government press service as saying that 40 percent of foreign investments in Armenia have come from Russia and another $50 million are to be invested in around 1,820 Armenian- Russian joint ventures.

“I am glad that our dialogue is developing so rapidly, especially in the run-up to Armenia’s accession to the Customs Union and the Common Economic Space. This is important both for Armenia and Russia, and also other members of the Customs Union," Sokolov said.

Sokolov arrived in Armenia to attend the opening of a joint Armenian- Russian factory of medical instruments in Yerevan.

Tigran Sargsyan said visits of Russian delegations to Armenia give a new momentum to the Armenian- Russian relations.

Sarkisian and Sokolov discussed the status of agreements reached during the February 24 meeting of the heads of the two governments, including measures envisaged by the roadmap of Armenia’s accession to the Russia-led trade bloc.

According to the National Statistical Service of Armenia, total foreign investment in the real sector of Armenian economy in the first 9 months of 2013 slashed by almost 32 percent year-on-year to $395.6 million. Foreign direct investment (FDI) fell by 62 percent to $ 155.1 million. -0-